Ozg Impex Consultant
india.impexconsultant.com
india.impexconsultant.com
Phone #
098.11.41.58.61-72-84-92-94
CHAPTER 1B
SPECIAL FOCUS
INITIATIVES
Special Focus
Initiatives 1B.1
With a view to doubling our
percentage share of global trade within 5 years and expanding employment
opportunities, especially in semi urban and rural areas, certain special focus
initiatives have been identified for the agriculture, handlooms, handicraft,
gems & jewellery and leather sectors.
Government of India shall make concerted efforts to promote
exports in these sectors by specific sectoral strategies that shall be notified
from time to time.
Further Sectoral Initiatives in other sectors will also be
announced from time to time.
For the present, the thrust sectors indicated below shall be
extended the following facilities:
New Sectoral
Initiatives to be announced (i) Agriculture
(a) A
new scheme called the Vishesh Krishi Upaj Yojana (Special Agricultural Produce
Scheme) for promoting the export of fruits, vegetables, flowers, minor forest
produce, and their value added products has been introduced (Para 3.8).
(b) Funds
shall be earmarked under ASIDE for development of Agri Export Zones (AEZ)
(c) Import
of capital goods shall be permitted duty free under the EPCG Scheme
(d) Units
in AEZ shall be exempt from Bank Guarantee under the EPCG Scheme.
(e) Capital
goods imported under EPCG shall be permitted to be installed anywhere in the
AEZ.
(f) Import
of restricted items, such as panels, shall be allowed under the various export
promotion schemes .
(g) Import
of inputs such as pesticides shall be permitted under the Advance Licence for
agro exports.
(h) New
towns of export excellence with a threshold limit of Rs 250 crore shall be
notified.
(ii) Handlooms
:
(a) Specific
funds would be earmarked under MAI/ MDA Scheme for promoting handloom exports
(b) Duty
free import entitlement of specified trimmings and embellishments shall be 5%
of FOB value of exports during the previous financial year.
(c) Duty
free import entitlement of hand knotted carpet samples shall be 1% of FOB value
of exports during the previous financial year.
(d) Duty
free import of old pieces of hand knotted carpets on consignment basis for
re-export after repair shall be permitted.
(e) New
towns of export excellence with a threshold limit of Rs 250 crore shall be
notified.
(iii) Handicrafts:
(a) New
Handicraft SEZs shall be established which would procure products from the
cottage sector and do the finishing for exports
(b) Duty
free import entitlement of trimmings and embellishments shall be 5% of the FOB
value of exports during the previous financial year. The entitlement is broad
banded, and shall extend also to merchant exporters tied up with supporting
manufacturers.
(c) The
Handicraft Export Promotion Council shall be authorized to import trimmings,
embellishments and consumables on behalf of those exporters for whom directly
importing may not be viable.
(d) Specific funds would be earmarked
under MAI & MDA Schemes for promoting Handicraft exports.
(e) CVD
is exempted on duty free import of trimmings, embellishments and consumables.
(f) New
towns of export excellence with a reduced threshold limit of Rs 250 crore shall
be notified.
(iv) Gems
& Jewellery
(a) Import
of gold of 18 carat and above shall be allowed under the replenishment scheme
(b) Duty
free import entitlement of consumables for metals other than Gold, Platinum
shall be 2% of FOB value of exports during the previous financial year.
(c) Duty
free import entitlement of commercial samples shall be Rs 100,000.
(d) Duty
free re-import entitlement for rejected jewellery shall be 2% of the FOB value
of exports
(e) Cutting
and polishing of gems and jewellery, shall be treated as manufacturing for the
purposes of exemption under Section 10A of the Income Tax Act
(v) Leather
and Footwear
(a) Duty
free import entitlement of specified items shall be 5% of FOB value of exports
during the preceding financial year.
(b) The
duty free entitlement for the import of trimmings, embellishments and footwear
components for footwear (leather as well as synthetic), gloves, travel bags and
handbags shall be 3% of FOB value of exports of the previous financial year.
The entitlement shall also cover packing material, such as printed and non
printed shoeboxes, small cartons made of wood, tin or plastic materials for
packing footwear .
(c) Machinery
and equipment for Effluent Treatment Plants shall be exempt from basic customs
duty.
(d) Re-export
of unsuitable imported materials such as raw hides & skins and wet blue
leathers is permitted.
(e) CVD
is exempted on lining and interlining material notified at S.No 168 of Customs
Notification No 21/2002 dated 01.03.2002.
(f) CVD
is exempted on raw, tanned and dressed fur skins falling under Chapter 43 of
ITC(HS).
Phone #
098.11.41.58.61-72-84-92-94
Office Timing: Mon - Sat, 9:30 a.m. - 5:30 p.m. IST
Email: ask@impexconsultant.com
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